European stocks mixed in holiday-diluted trading; Siemens Gamesa shares rise

LONDON – European indices were mixed Thursday morning as holiday-depleted trading continued in the region.

The pan-European Euro Stoxx 600 was flat in the early trades, with large stock markets pointing in different directions. Tech was the only real winner with an increase of almost 0.5%.

Global investors are looking for a Santa rally to end a year of solid returns. The FTSE and DAX are on track to see increases of 15% for this year, while the French CAC is close to an increase of 30%.

Historically, many benchmarks win during the Santa Claus rally – the last five trading days this year and the first two in the new year. The period began on Monday.

Shares in the Asia-Pacific region were mostly higher on Thursday trading, while US stock index futures changed slightly during overnight trading after the S&P 500 and Dow Jones Industrial Average closed at new records.

Market participants have spent the past few weeks juggling concerns about new Covid restrictions and tighter central bank policies with early studies suggesting the omicron strain of the virus is milder than previous variants like Delta. New studies in South Africa and the UK last week suggested that omicron has a reduced risk of hospitalization and serious illness.

In news of individual shares, shares in Siemens Gamesa rose 0.6% in early trades after reaching a delivery agreement for wind turbines in Sweden.

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